Singapore's HRnetGroup H1 profit falls on lower other income

Hrnetgroup

12/08/2026 14:19

Overview
Singapore HR services provider reported stable H1 revenue at S$292.2 mln
Net profit after tax was S$21.1 mln, reflecting lower other income
Operating expenses declined 1.9% to S$42.0 mln due to cost control

Outlook
Company did not provide specific guidance for future quarters or the full year

Result Drivers
GROSS PROFIT GROWTH - Operating profit before tax rose on 2.4% higher gross profit, mainly from Flexible Staffing and margin improvement in Greater China and Indonesia
COST CONTROL - Operating expenses declined 1.9% to S$42.0 mln due to cost control measures
LOWER OTHER INCOME - Net profit after tax reflected lower other income, mainly due to reduced fair value gains and absence of a prior-year government grant

Company press release: ID:nSN9Z8Sdx

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
S$292.18 mln
 
H1 Net Income
 
S$21.12 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the employment services peer group is "buy"
Wall Street's median 12-month price target for HRnetGroup Ltd is S$0.85, about 15% above its August 12 closing price of S$0.74
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 14 three months ago

Reuters Recommended Reads
Aug 10 - HireQuest Q2 revenue rises as staffing demand recovers
Aug 11 - Finland's Siili Solutions Q2 revenue falls, cuts guidance
Aug 12 - Singapore's Sapphire Corp half-year net income falls on higher expenses

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)